Core Viewpoint - The storage industry is entering a super cycle driven by AI, leading to an increase in storage chip prices and a positive impact on the packaging materials supply chain through advanced packaging technology [1] Company Summary - The company is expanding its market share in the traditional packaging sector through technological innovation and product structure adjustments [1] - The company is actively investing in the advanced packaging field to promote the industrialization of high-end products [1]

证券日报网1月30日讯，华海诚科在接受调研者提问时表示，衡所华威的产品体系全面覆盖基础、高性 能、先进封装多个层次，在国内外众多细分应用领域处于领先地位。在国内中高端半导体封装材料被外 资厂商垄断的背景下，衡所华威立足于高性能封装的同时，积极布局先进封装领域，推动高端产品的产 业化。衡所华威产品结构聚焦于高性能产品的同时，在先进封装领域不断拓展，产品终端应用涉及汽车 电子、新能源、第三代半导体、工业领域、消费电子、物联网、光伏等领域，形成了较为显著的产品体 系优势。衡所华威主要以封装技术演进趋势与客户定制化需求为导向，凭借扎实的研发实力与丰富的实 践经验，在产品配方与生产工艺等方面进行持续研发与技术攻关，实现从低端到高端产品全面覆盖的技 术体系，可实现灵活快速的研发需求响应。 ...

证券日报网1月30日讯，华海诚科在接受调研者提问时表示，国内的环氧塑封料市场，高性能类占比最 高；基础类因单价较低，占比相对较小；先进封装类占比也较低。 ...

点击 最 下方 关注《材料汇》 ， 点击"❤"和" "并分享 添加 小编微信 ，寻 志同道合 的你 正文 材料汇文章标签汇总 如何下载（加入知识星球-材料汇） 材料汇部分文章 未来40年材料强国革命：这13大领域将重塑人类文明！ 国产替代爆发！14种卡脖子的先进封装材料，百亿赛道谁将突围？ | 先进封装材料 | 全球市场规模 | 中国市场规模 | 国外企业 | 国内企业 | | --- | --- | --- | --- | --- | | PSPI | | | 微系统、AZ电子材料 | 鼎龙股份、国风新材、三月科 | | | | 5.28亿美元(23年 7.12亿元(21 | Fujifilm, Toray, HD | 技、八亿时空、强力新材、瑞 | | | 全球) . 预计 | 年中国)、预 | | 华泰、诚志殷竹、艾森股份、 | | | 2028年将达到 | 汁到2025年增 | | 奥采德:波米科技、明士新材 | | | 20.32亿美元 | 长至9.67亿元 | 、旭化成 | 、东阳华芯、上海玟昕、理硕 | | | | | | 科技等 | | 光敏绝缘 | 2020年:0.1亿 | | | | | ...

1月27日，华海诚科涨5.71%，截至发稿，报133.49元/股，成交5.42亿元，换手率8.13%，总市值128.17 亿元。 资料显示，江苏华海诚科新材料股份有限公司位于江苏省连云港市经济技术开发区东方大道66号，成立 日期2010年12月17日，上市日期2023年4月4日，公司主营业务涉及研发生产销售用于半导体器件、特种 器件、集成电路及稀土永磁无铁芯电机、LED支架等电子封装材料产品。主营业务收入构成为：环氧塑 封材料92.80%，胶黏剂6.23%，其他0.98%。 从华海诚科十大流通股东角度 数据显示，嘉实基金旗下1只基金位居华海诚科十大流通股东。嘉实竞争力优选混合A（010437）三季 度新进十大流通股东，持有股数81.39万股，占流通股的比例为1.55%。根据测算，今日浮盈赚取约 586.86万元。 嘉实竞争力优选混合A（010437）成立日期2021年2月24日，最新规模26.07亿。今年以来收益6.84%， 同类排名3458/8861；近一年收益57.71%，同类排名1339/8126；成立以来亏损22.36%。 嘉实竞争力优选混合A（010437）基金经理为杨欢。 截至发稿，杨欢累计任职时 ...

1月26日，华海诚科跌5.16%，截至发稿，报125.39元/股，成交4.54亿元，换手率6.74%，总市值120.39 亿元。 资料显示，江苏华海诚科新材料股份有限公司位于江苏省连云港市经济技术开发区东方大道66号，成立 日期2010年12月17日，上市日期2023年4月4日，公司主营业务涉及研发生产销售用于半导体器件、特种 器件、集成电路及稀土永磁无铁芯电机、LED支架等电子封装材料产品。主营业务收入构成为：环氧塑 封材料92.80%，胶黏剂6.23%，其他0.98%。 从华海诚科十大流通股东角度 数据显示，嘉实基金旗下1只基金位居华海诚科十大流通股东。嘉实竞争力优选混合A（010437）三季 度新进十大流通股东，持有股数81.39万股，占流通股的比例为1.55%。根据测算，今日浮亏损失约 555.11万元。 嘉实竞争力优选混合A（010437）成立日期2021年2月24日，最新规模26.07亿。今年以来收益7.9%，同 类排名3273/9003；近一年收益62.71%，同类排名1253/8185；成立以来亏损21.59%。 嘉实竞争力优选混合A（010437）基金经理为杨欢。 截至发稿，杨欢累计任职时间 ...

Group 1 - The company is actively positioning itself in advanced packaging technologies, which are essential for the miniaturization and multifunctionality of electronic products, with a focus on technologies like flip chip, wafer-level, system-level, fan-out, 2.5D/3D, and Chiplet [1] - The market share of advanced packaging is continuously increasing, surpassing traditional packaging, creating significant opportunities for advanced packaging materials [1] - The completion of the acquisition of Hengsuo Huawai allows the company to leverage its subsidiary Hysolem's R&D advantages in advanced packaging to accelerate the development and mass production of high thermal conductivity encapsulants and other advanced packaging materials [1] Group 2 - The demand for high-performance packaging materials is driven by the explosive growth in electric vehicle sales and the increasing number of electronic devices in automobiles, leading to unprecedented opportunities in the automotive-grade chip packaging materials industry [2] - According to Omdia, the global automotive-grade chip market is expected to reach $80.4 billion by 2025, indicating substantial market potential and growth [2] - The company has made significant progress in the R&D of epoxy encapsulants for advanced packaging and automotive-grade chips, with some products already in mass production and plans for new intelligent production lines that will add approximately 10,000 tons of capacity upon reaching full production [2] Group 3 - The company projects revenues of 380 million, 1.01 billion, and 1.26 billion yuan for the years 2025, 2026, and 2027, respectively, with net profits of 26 million, 103 million, and 139 million yuan for the same years, maintaining a "buy" rating [3]

证券研究报告：电子 | 公司点评报告 股票投资评级 公司基本情况 | 最新收盘价（元） | 128.55 | | --- | --- | | 总股本/流通股本（亿股）0.96 | / 0.52 | | 总市值/流通市值（亿元）123 | / 67 | | 周内最高/最低价 52 | 128.55 / 66.08 | | 资产负债率(%) | 25.9% | | 市盈率 | 257.10 | | 第一大股东 | 韩江龙 | 我们预计公司 2025/2026/2027 年分别实现收入 3.8/10.1/12.6 亿元，归母净利润分别为 0.26/1.03/1.39 亿元，维持"买入"评级。 l 风险提示 先进封装用环氧塑封料产业化风险，研发不及时或进度未达预期 分析师:吴文吉 SAC 登记编号:S1340523050004 Email:wuwenji@cnpsec.com 分析师:翟一梦 SAC 登记编号:S1340525040003 Email:zhaiyimeng@cnpsec.com 华海诚科(688535) 携手衡所华威，强化先进封装与车规级封材布局 l 投资要点 积极布局先进封装，推动高端产品产业化。在 ...

证券研究报告：电子 | 公司点评报告 股票投资评级 公司基本情况 | 最新收盘价（元） | 128.55 | | --- | --- | | 总股本/流通股本（亿股）0.96 | / 0.52 | | 总市值/流通市值（亿元）123 | / 67 | | 周内最高/最低价 52 | 128.55 / 66.08 | | 资产负债率(%) | 25.9% | | 市盈率 | 257.10 | | 第一大股东 | 韩江龙 | 研究所 积极布局先进封装，推动高端产品产业化。在电子产品向小 型化、多功能化迭代的趋势下，倒装焊、圆片级、系统级、扇出型、 2.5D/3D、Chiplet 等先进封装技术凭借适配芯片尺寸缩小、输出/ 入脚数大幅增加的优势，已成为延续摩尔定律的关键路径，其市场 占比正持续提升并逐步超越传统封装，带动先进封装材料迎来主 流化发展机遇。其中，QFN/BGA、FOWLP/FOPLP 等技术的不对称封 装特性，对环氧塑封料提出了更高的翘曲控制、抗分层及电性能稳 定要求，需要厂商在玻璃化转变温度（Tg）、热膨胀系数（CTE）与 应力等核心性能指标间实现精准平衡，这不仅大幅提升了产品的 研发壁垒，更对塑封 ...

Market Performance - The Sci-Tech Innovation Board Index fell by 1.58%, closing at 1482.99 points, with a total trading volume of 5.652 billion shares and a turnover of 299.275 billion yuan, resulting in an average turnover rate of 2.88% [1] - Among the tradable stocks on the Sci-Tech Innovation Board, 168 stocks closed higher, with 5 stocks rising over 10% and 14 stocks rising between 5% and 10%. Conversely, 425 stocks closed lower, with 5 stocks declining over 10% [1] Turnover Rate Analysis - The turnover rate distribution shows that 3 stocks had a turnover rate exceeding 20%, 28 stocks had a turnover rate between 10% and 20%, and 105 stocks had a turnover rate between 5% and 10% [1] - The highest turnover rate was recorded by Qizhong Technology, which closed up by 16.32% with a turnover rate of 22.82% and a transaction amount of 1.312 billion yuan [1] - Other notable stocks with high turnover rates include Huahai Chengke (22.52% turnover rate, 4.24% increase) and Youxun Co. (20.31% turnover rate, 2.48% increase) [1] Sector Performance - In terms of sector performance, the electronics sector had the highest number of stocks with a turnover rate exceeding 5%, totaling 48 stocks. The computer and machinery equipment sectors followed with 18 and 17 stocks, respectively [2] - Among the stocks with a turnover rate over 5%, 54 stocks increased, with the highest increases seen in Zhongwei Semiconductor (19.99%), Qizhong Technology (16.32%), and Sains (13.80%). Conversely, the largest declines were in Pinggao Co. (-11.63%), Aerospace Hongtu (-11.22%), and Haohan Depth (-10.55%) [2] Capital Flow - In terms of capital flow, 55 stocks with high turnover rates experienced net inflows from main funds, with the largest inflows seen in Lankai Technology (345 million yuan), Baiwei Storage (276 million yuan), and Zhongwei Semiconductor (258 million yuan) [2] - Conversely, the stocks with the largest net outflows included Zhenlei Technology (-557 million yuan), Huafeng Technology (-319 million yuan), and Moer Thread (-303 million yuan) [2] Leverage Fund Movements - A total of 77 stocks with high turnover rates received net purchases from leveraged funds, with significant increases in financing balances observed in Baiwei Storage (1.152 billion yuan), Lankai Technology (777 million yuan), and Jinpan Technology (278 million yuan) [2] - Stocks with the largest decreases in financing balances included Moer Thread (-180 million yuan), Changguang Huaxin (-163 million yuan), and Muxi Co. (-97.7694 million yuan) [2]